Rising oil prices will only become a problem if they hit the $60 mark, according to Singapore Trade and Industry Minister Lim Hng Kiang. Speaking during a visit to the community of Bishan-Toa Payoh North yesterday, Mr Lim told the local residents that high oil prices will impact on their exports as energy prices go up, but in the event of the oil price hike, the effect would be felt only towards the end of 2005.

As far as casinos were concerned, Mr Lim said that the Government was talking to potential developers in the private sector, and that once the proposals have been studied, the government will make a decision. However, when asked about the type of casinos that would be built, the Minister said categorically that they would not be the exclusive club type such as in Monte Carlo or the stand-alone casinos such as those in Macau or Genting.

Mr Lim said that the Government was in favour of entertainment centres such as those in Las Vegas or The Atlantis in the Bahamas: "Something that is integrated, a water theme park or a convention centre, a theatre, art galleries- things which will bring in the tourists - shopping. Then the casino is just 30%, 40%, 50% of the operation, just to make it viable. We have been talking to potential developers. They haven't come back to us yet." The Minister then concluded. " If they give us this kind of model, we can evaluate the benefits to Singapore. Then we can also ask them to how to mitigate the social impact on Singapore."

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